Or­p­hazyme ad­mits this may be the end, as it asks court to over­see re­struc­tur­ing

Just a cou­ple weeks af­ter Or­p­hazyme ad­mit­ted Eu­ro­pean reg­u­la­tors were un­like­ly to ap­prove its FDA-re­ject­ed drug, the biotech in­di­cat­ed it may shut down en­tire­ly.

The Dan­ish biotech said Thurs­day it is pe­ti­tion­ing for an “in-court re­struc­tur­ing” that will de­ter­mine whether or not all or part of its op­er­a­tions can con­tin­ue. Or­p­hazyme says the re­struc­tur­ing will al­so ex­plore whether a cash in­jec­tion is need­ed, or if the com­pa­ny will need to sell some or all of its as­sets.

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